Promising outlook but in moderate pace
It is very clear that the industrial market in Greater Jakarta area has gradually shifted to the high-tech industry, although traditional sectors remain. We have noticed a remarkable growth in the technology sector; in particular, with data centres that keep on expanding and growing, from both local and overseas companies. This is a possible opportunity for industrial estates that, so far, only focus on traditional tenants to increase marketability by improving infrastructure and security support as well as providing the energy backbone to promote to high-tech industry.
On the other front, given land scarcity in preferred areas with good proximity and accessibility to the main market, like the capital city, the growing leasing market is another opportunity. The considerable growth of e-commerce-based industries is one trigger, escalating the need for storing goods as well as providing distribution hubs. For industrial estates with limited land to sell, this may be a time to appraise the situation.